Spinee wrote a post · Jun 20 20:50

China Maintains June Loan Prime Rates (LPR) Unchanged

On June 20, 2024, the Loan Prime Rate (LPR) stood at 3.45% for the one-year LPR and 3.95% for the five-year LPR, both unchanged.

According to the Financial Times, which is managed by the People's Bank of China, the unchanged LPR is mainly due to the stable MLF rate, market expectations, and banks' interest margin considerations. Though LPR generally references MLF rates, they are not strictly linked. Additionally, preventing a rapid decline in loan rates, which could lead to idle funds and arbitrage, is also a key reason for keeping LPR unchanged.

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